Governor, Central Bank of Jordan Umayya Toukan of Jordan

At the end of the opening ceremony, Dr Toukan met with Mr.

Toukan said dropping the peg was 'not for discussion' but admitted that the kingdom might, at some point, start buying dollars with dinars in order to take upward pressure off its currency.

It's not for discussion, Toukan said in an interview yesterday in Basel, Switzerland, where he's attending the Bank for International Settlements annual general meeting.

Toukan has previously said inflation in Jordan is caused by higher fuel costs and not by the weaker dollar.

Federal Reserve rate cuts, governor Umayya Toukan said on Thursday.

governor Umayya Toukan said on Thursday.

conference of the Islamic Financial Services Board.

DUBAI: Jordan has no plans to revalue its dinar currency or sever the currency's peg to the weakening US dollar, its central bank governor Umayya Toukan said yesterday.

The system has been working very well," Toukan said when asked whether he planned to revalue the dinar or sever the peg in response to dollar weakness.

Jordan does not need to match US Federal Reserve rate cut, Toukan said last week.

Whether you have a peg to the dollar or a basket, it's still a fixed exchange rate regime," Toukan said responding to a question on whether GCC countries were planning to move away from the dollar.

Toukan said Gulf nations would need to consider changing foreign exchange policy within the framework of exports, GDP growth, central bank reserves and the development of spending.

In reply to a question on the impact of higher interest rates to contain inflation, Toukan said this is not the only factor to tackle inflation.

On economic reforms, Toukan said citizens have benefited from the quantitive and qualitative growth achieved in various sectors, in addition to the increase in the per capita income.

Defending reforms, Toukan said a study by the CBJ on the economy showed that structural adjustments accomplished since 1999 have yielded positive results.

Still, Mr Toukan said he felt optimistic about globalisation following a Jordanian study on its local effects.

TOUKAN SAID BAHRAIN WAS CHOSEN TO HOST MENAFATF FOR ITS LAUDABLE EFFORTS IN COMBATING ML/TF CRIMES.

If fact, Toukan said Jordan may actually buy more of the US currency to help take pressure off the dinar.

Toukan has previously blamed the weak dollar, along with higher fuel costs, for rising inflation in the country.

Also yesterday, the governor of Jordan's central bank Umayya Toukan said that high inflationary pressures remain to be a "challenge" for monetary policies in the region.

Jordan’s central bank governor Umayya Toukan said that “prudent” moves to tighten monetary conditions were needed to keep growth humming in the global economy.